Pricing at market value will open your home up to more people who can afford it.
When agents are excited about a property and its price, they make special efforts to contact all their potential buyers and show the property whenever possible.
Buyer inquiries are more readily converted into showing appointments when the price is not a deterrent.
When a property is priced right, buyers are much less likely to make a low offer, for fear of losing out on a great
value.
Positioning through pricing will empower better negotiations and better affect the bottom line.
As you may know, it takes a lot of time and energy to prepare your home for showings, keep the property clean, make arrangements for children and pets, and generally alter your lifestyle. Proper pricing shortens marketing time.
The proper price gets a faster sale, which means you save on mortgage payments, real estate taxes, insurance, and
other carrying costs.
When a property is priced right, the excitement of the market produces a higher sales price in less time. You NET more due to the higher sales price and lower carrying costs.
Agents will not show the property if they feel it is priced too high.
The high price makes the others look like a good deal.
The property will seem inferior in amenities to other properties in the same price range that are correctly priced.
Buyer excitement will be with other properties that offer better value. Buyers are very educated and have tons of information at their fingertips.
Since a fair priced offer will be lower than asking price and may insult the seller, many buyers will just move on to another property.
Serious buyers will feel that they should be getting more for their money.
You lose negotiating power for every day it sits on the market. The listing will become stale and buyers may think something is wrong with it.
Appraisers must base their value on what comparable properties have sold for.
Most of the time an overpriced property will eventually end up selling for less than if it had been properly priced to begin with, not to mention the extra carrying costs, due to market aging.